Green Plains downgraded to Neutral at BofA on macro risks

BofA analyst Salvator Tiano downgraded Green Plains (GPRE) to Neutral from Buy with a price target of $4.50, down from $10. Increased risks from a deteriorating macro environment and emerging trade war offset the potential for strong returns should the company’s initiatives succeed, the analyst tells investors. The firm remains constructive on the company’s carbon capture project, which “could be transformational,” but flags several risks that could impair Green Plains’ valuation.